HHR 8.33% 0.7¢ hartshead resources nl

$2,000,000, page-24

  1. 610 Posts.
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    bobgg,

    That was me. The oppies are unlisted, ex at 40c with 2 years to run. My guess (without cracking open the Black-scholes model, is that these could be worth up to 20c each hence my value of $500k.

    Its probably a bit on the high side and all comes down to the volatility one uses in the calcs but the main point is that this director will walk away from these (as he will not exercise them at 40c) so he is leaving a very considerable amount of value on the table.

    Just an indicator that his departure was very likely to be 'stressed'.

    Cheers
 
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